BMW of North Haven Hiring for Finance and Insurance Manager Job at North Haven, CT Full Time

BMW of North Haven is looking to hire a high performing Finance and Insurance Manager to our sales department. Joining the BMW of North Haven team, you will become a part of a winning environment and culture that strives to be the best in every possible KPI and metric. BMW of North Haven is one of the largest BMW Dealers in the State of Connecticut, being a top 15 BMW Pre-Owned Dealer in the Eastern Region and a top performing new vehicle BMW Dealer in the respective CT market.

Joining our Sales Department, you will be teaming up with a diverse, well rounded and tenured sales team of Client Advisors, Sales Managers and support staff. In addition, you will be joining a high performing F&I Department that produces $250,000 – $300,000+ in Gross Profit per month.

In this role, the Finance and Insurance Manager is responsible for securing each sale and ensuring that every vehicle that is sold is delivered. This position is responsible for reviewing each deal entirely, prior to delivery, in order to develop a comprehensive and successful sales strategy of aftersales products for each customer based on there consumer habits and driving needs. This all must be done while holding the highest standards of ethics and compliance.

Essential Duties

• Protects gross profit by arranging financing so outside sources do not have an impact on selling margins.
• Establishes lender relations that tie the customer closer to the dealership.
• Generates additional income through the sales of credit insurance, vehicle service contracts, GAP coverage and maintenance plans.
• Maintains control of all paperwork until it is ready to be turned into the general office.
• Responsible for all paperwork involved with the sale of the vehicle, including obtaining customer signatures and securing payoff and insurance information.
• Converts cash deals to finance.
• Establishes and maintains good working relationships with several finance sources, including the manufacturer.
• Processes finance and lease deals accurately and fairly through financial sources to secure approval.
• Conducts business in an ethical and professional manner.
• Processes all federal, state and dealer paperwork related to vehicle transaction.
• Understands and complies with federal, state and local regulations that affect the new- and used-vehicle and finance departments.
• Completes paperwork necessary for vehicle sales and leases in a timely and efficient manner.
• Checks all paperwork for correct title, lien information, taxes etc., before forwarding to accounting.
• Acquires and maintains current state insurance license, completing continuing credit insurance education as needed.
• Provides customers with complete explanation of manufacturer and dealership service procedures and policies.
• Manages the alternative finance source program to ensure that several sources are available.
• Seeks insurance companies for insurance paper.
• Maintains insurance files.
• Sets up and maintains a program that will ensure 100 percent turnover to the F& I department.
• Provides sales force and sales managers with current information about finance and lease programs continually.
• Trains the sales staff regarding the benefits of financing, insurance and extended service programs.
• Works with sales managers to secure a reasonable profit from every sale.
• Coordinates finance forecasting with sales department forecasting to achieve desired levels of penetration and income.
• Ensures collection of all finance and insurance fees.
• Takes all credit applications.
• Prepares reports on finance penetration.
• Attends managers meetings.
• Partners with other F&I Managers to effectively lead and manager F&I Department
• Works with Sales Staff on selling strategies during the initial sales process
• Handles all rate quotations.
• Develops and monitors guidelines for working with customers to ensure maximum customer satisfaction.
• Supervises and trains designated backup to ensure continued efficiency and profitability in the F& I manager’s absence.
• Maintains an adequate and current supply of all required contracts and paperwork needed for completion and finalization of car deals.
• Maintains a professional appearance.
• Maintains a clean and professional work environment.
• Other tasks as assigned.

Job Type: Full-time

Pay: $200,000.00 – $450,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Employee discount
• Health insurance
• Vision insurance

Schedule:

• 10 hour shift
• Monday to Friday
• Weekend availability

Experience:

• Automotive: 5 years (Preferred)
• Finance Manager: 3 years (Preferred)
• Automotive Sales: 5 years (Preferred)

Work Location: One location